{"id":2922,"date":"2017-01-18T10:57:46","date_gmt":"2017-01-18T01:57:46","guid":{"rendered":"http:\/\/www.01.asiapress.org\/rimjin-gang-2\/2017\/01\/report\/price-investigation-2\/"},"modified":"2018-08-24T18:20:48","modified_gmt":"2018-08-24T09:20:48","slug":"price-investigation-2","status":"publish","type":"post","link":"https:\/\/www.02.asiapress.org\/rimjin-gang\/2017\/01\/news\/price-investigation-2\/","title":{"rendered":"\uff1cInside N. Korea\uff1eMarket Price Since Imposition of New Economic Sanction"},"content":{"rendered":"
<\/a>

A market in Chongjin City. September 2013 (ASIAPRESS)<\/p><\/div>\n

 <\/p>\n

2017\/Jan<\/span>\/17<\/em><\/p>\n

On 30 November last year, the United Nation Security Council (UNSC) approved new economic sanctions on North Korea.\u00a0 In 2017, the sanctions intend to slash North Korea's exports of coal with an annual sales cap of $400.9 million, or 7.5 million metric tons (62 percent less than 2015), whichever is lower.\u00a0 Furthermore, the UNSC has prohibited North Korea from exporting mineral resources such as copper, silver, zinc, nickel.\u00a0 Reportedly, the Kim Jong-un regime would lose 800 million USD worth of foreign currencies per year.<\/p>\n

Around 50 days after the approval of the sanctions, ASIAPRESS reporting partners conducted survey on market prices of white staple food, gasoline, and the exchange rate for North Korean Won to Chinese RMB.\u00a0 The market price near the China-North Korea border was more or less the same with that of Pyongyang.
\n Related Article: \uff1cInside N. Korea\uff1e Market survey shows \u201cResolution 2270\u201d, the toughest-ever sanctions, didn\u2019t work.<\/a><\/span><\/strong><\/p>\n

After the UNSC imposed the sanctions on North Korea, the market price of white rice has decreased by 20% while the corn price has increased by 25%.\u00a0 The clear contrast between the prices of two staple foods is hard to explain for now.\u00a0 The price of gasoline and diesel oil has been rising by 10-20% from the beginning of 2017, perhaps due to the surge in the international oil price.\u00a0 The exchange rate for North Korean Won to Chinese RMB\u2013drawing attention from the international society\u2013has been stable.<\/p>\n

The table below shows the prices of rice, corn (per kilogram), and various kind of oil (per litre) in North Korean Won.\u00a0\u00a0 I USD is equal to around 8,500 Won.\u00a0 (Kang Ji-won\/ISHIMARU Jiro)<\/p>\n

(* ASIAPRESS smuggles Chinese carrier mobile phones into North Korea that function in the border area of North Korea. Using these, our North Korean reporters and reporting partners communicate with us on the latest developments.)<\/p>\n

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Table: market price<\/p><\/div>

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Map: the cities where we conducted surveys<\/p><\/div>\n

 <\/p>\n

\u3010Related Article<\/strong>\u3011
\n \u25c6 [Video Report] National bus network of the North Korean market economy<\/a><\/span>
\n \u25c6 \uff1cInside N.Korea\uff1e Is Economic Sanction Really Effective? Searching Effect from Retail Price Index<\/a><\/span>
\n \u25c6 N.Korean People lament, \u201cWe\u2019ll be done if Chinese enforce the sanctions\u201d<\/a><\/span><\/p>\n

\"rimjingang_banner001\"*\u00a0<\/span><\/a>Editor\u2019s notes on North Korean reporters<\/a>
\n <\/a>ALL REPORTS >>><\/a> <\/strong><\/span>
\n ARCHIVE(pdf) >><\/a><\/span>
\n DPRK MAP >><\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

  2017\/Jan\/17 On 30 November last year, the United Nation Security Council (UNSC) approved new economic sanctions o\u2026<\/p>\n","protected":false},"author":3,"featured_media":3557,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0},"categories":[7,12],"tags":[],"_links":{"self":[{"href":"https:\/\/www.02.asiapress.org\/rimjin-gang\/wp-json\/wp\/v2\/posts\/2922"}],"collection":[{"href":"https:\/\/www.02.asiapress.org\/rimjin-gang\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.02.asiapress.org\/rimjin-gang\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.02.asiapress.org\/rimjin-gang\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.02.asiapress.org\/rimjin-gang\/wp-json\/wp\/v2\/comments?post=2922"}],"version-history":[{"count":0,"href":"https:\/\/www.02.asiapress.org\/rimjin-gang\/wp-json\/wp\/v2\/posts\/2922\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.02.asiapress.org\/rimjin-gang\/wp-json\/wp\/v2\/media\/3557"}],"wp:attachment":[{"href":"https:\/\/www.02.asiapress.org\/rimjin-gang\/wp-json\/wp\/v2\/media?parent=2922"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.02.asiapress.org\/rimjin-gang\/wp-json\/wp\/v2\/categories?post=2922"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.02.asiapress.org\/rimjin-gang\/wp-json\/wp\/v2\/tags?post=2922"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}